Best Credit Card Promotion Hong Kong

Updated August 2019

Compare and apply for credit cards in Hong Kong with the best promotions and welcome gifts, such as free movie tickets and bonus reward points.

Popular Welcome Offers Credit Cards

Extra HK$300 cash rebate

WeWa UnionPay Card

$0

Min. Annual Salary

N.A.

Miles Conversion (local spend)

4%

Cash back on local spend

MoneySmart Exclusive: Successfully applied through MoneySmart: Extra HK$300 cash rebateValid till 31 Aug 2019.
  • A set of Round-trip Standard Seat Flight Tickets for One Passenger from Hong Kong to Japan (Osaka or Okinawa) with HK$100 Hotel Voucher or HK$500 Cash Rebate or HK$600 Häagen-Dazs™ Gift Voucher
MoneySmart Exclusive: Successfully applied through MoneySmart: Extra HK$300 cash rebateValid till 31 Aug 2019.

Welcome Offers Features

  • A set of Round-trip Standard Seat Flight Tickets for One Passenger from Hong Kong to Japan (Osaka or Okinawa) with HK$100 Hotel Voucher or HK$500 Cash Rebate or HK$600 Häagen-Dazs™ Gift Voucher

Annual Interest Rate and Fees

Annual Interest RateN/A
Principle Annual FeeHK$800
Supplementary Annual FeeN/A
Fee WaiverYes
Minimum Monthly RepaymentHK$50 or the aggregate amount of all the following items (whichever is higher): (i) All finance charges and other fees & charges billed; (ii) 1% of statement balance (excluding all finance charges and other fees & charges); (iii) Outstanding Minimum Payment Due (when applicable); and (iv) Total over-the-limit amount (when applicable)
Interest Free Period53 Days

Minimum Income Requirements

Local ResidentHK$0
ForeignerHK$0

Other

Card AssociationUnionpay
Wireless PaymentUnionPay QuickPass, Apple Pay

HK$1,000 Voucher!

Citi PremierMiles Card

$240,000

Min. Annual Salary

0.8%

Miles Conversion (local spend)

$8 = 1 Mile

Cash back on local spend

MoneySmart Exclusive: HK$1,000 Voucher!Valid till 23 Aug 2019.
  • Welcome offer : 9,000 Miles (108,000 Points) + Free Travel Insurance
MoneySmart Exclusive: HK$1,000 Voucher!Valid till 23 Aug 2019.

Welcome Offers Features

  • Earn 108,000 points by spending HK$10,000 or above within the first 2 months of card issuance
  • Free year-round travel insurance

Annual Interest Rate and Fees

Annual Interest Rate35.52%
Principle Annual FeeHK$1,800
Supplementary Annual FeeN/A
Fee WaiverYes
Minimum Monthly Repayment1.5% of monthly balance + fees
Interest Free PeriodUp to 58 days

Minimum Income Requirements

Local ResidentHK$240,000
ForeignerHK$360,000

Other

Card AssociationVisa
Wireless PaymentVisa payWave

HK$1,000 Voucher!

Citi Rewards Visa Card

$150,000

Min. Annual Salary

$3 = 1 Mile

Miles Conversion (local spend)

3.2%

Cash back on local spend

MoneySmart Exclusive: HK$1,000 Voucher!Valid till 23 Aug 2019.
  • Welcome Offer of up to HK$600 Cash Coupon
MoneySmart Exclusive: HK$1,000 Voucher!Valid till 23 Aug 2019.

Welcome Offers Features

  • Earn 270,000 points by spending HK$10,000 or more within first 2 months from card issuance
  • 270,000 points is redeemable for a HK$1200 fuel card
  • 9,000 miles=Round trip ticket to Taipei 1 set

Annual Interest Rate and Fees

Annual Interest Rate35.52%
Principle Annual FeeHK$1,800
Supplementary Annual FeeN/A
Fee WaiverYes
Minimum Monthly Repayment1.5% of monthly balance + fees
Interest Free PeriodUp to 58 days

Minimum Income Requirements

Local ResidentHK$60,000
ForeignerHK$60,000

Other

Card AssociationVisa
Wireless PaymentVisa payWave

HK$200 Voucher!

DBS Black World Mastercard

$240,000

Min. Annual Salary

$6 = 1 Mile

Miles Conversion (local spend)

0.8%

Cash back on local spend

MoneySmart Exclusive: HK$200 Supermarket VouchersValid till 31 Aug 2019.
  • Welcome offer: Up to 120,000 miles
MoneySmart Exclusive: HK$200 Supermarket VouchersValid till 31 Aug 2019.

Welcome Offers Features

  • Welcome offer up to 120,000 miles
  • HK$1 = 1 mile for first HK$5,000 spent on local purchases
  • HK$2.5 = 1 mile for first HK$70,000 spent on overseas purchases
  • Earn extra 50% Avios redemption, up to 40,000 miles
  • First year annual fee waiver

Annual Interest Rate and Fees

Annual Interest Rate36.33%
Principle Annual FeeHK$2,000
Supplementary Annual FeeN/A
Fee WaiverYes
Minimum Monthly RepaymentVaries. For more info, view T&C
Interest Free PeriodUp to 60 Days

Minimum Income Requirements

Local ResidentHK$240,000
ForeignerHK$240,000

Other

Card AssociationMastercard
Wireless PaymentN.A.

HK$350 Voucher

Blue Cash℠ Credit Card from American Express

$150,000

Min. Annual Salary

N.A.

Miles Conversion (local spend)

1.2%

Cash back on local spend

MoneySmart Exclusive: HK$350 Voucher!Valid till 31 Aug 2019.
  • American Express welcome offer - HK$500 Cashback + 2 movie tickets
MoneySmart Exclusive: HK$350 Voucher!Valid till 31 Aug 2019.

Welcome Offers Features

  • Get HK$500 in welcome cashback by spending HK$6,000 or more in the first 2 months
  • Enjoy 2 complimentary movie tickets from Broadway Circuit and AMC Pacific Place Cinemas if you apply online
  • Enjoy 9.99% annualized percentage rate (APR) on retail purchases in the first 12 months from card issuance
  • First year annual fee waiver worth HK$980

Annual Interest Rate and Fees

Annual Interest Rate37.68%
Principle Annual FeeHK$980
Supplementary Annual FeeN/A
Fee WaiverYes
Minimum Monthly RepaymentThe highest of the following three amounts: (i) 1.5% of outstanding principal plus 100% of Finance Charges, interest, fees (including annual membership fee) and all other applicable charges; or (ii) 4% of your outstanding balance; or (iii) HK$220, plus any overdue minimum payments and any amount exceeding your credit limit.
Interest Free Period

Minimum Income Requirements

Local ResidentHK$150,000
ForeignerHK$150,000

Other

Card AssociationAmerican Express
Wireless PaymentAmex Pay

Extra HK$300 cash rebate

EarnMORE UnionPay Card

HK$0

Min. Annual Salary

N.A.

Miles Conversion (local spend)

2%

Cash back on local spend

MoneySmart Exclusive: Successful application through MoneySmart Extra HK$300 cash rebateValid till 31 Dec 2019.
  • Welcome Offer & Suning Spending Offer: Enjoy up to HK$2,000 cash rebate with EarnMORE UnionPay Card (Promotional Period valid till 31 Aug 2019)
MoneySmart Exclusive: Successful application through MoneySmart Extra HK$300 cash rebateValid till 31 Dec 2019.

Welcome Offers Features

Choose one welcome offer from below:

  • OTO Qseat
  • HK$600 Häagen-Dazs™ Gift Voucher
  • HK$500 Cash Rebate

    Annual Interest Rate and Fees

    Annual Interest RateN/A
    Principle Annual FeeHK$800
    Supplementary Annual FeeN/A
    Fee WaiverYes
    Minimum Monthly RepaymentHK$50 or the aggregate amount of all the following items (whichever is higher): (i) All finance charges and other fees & charges billed; (ii) 1% of statement balance (excluding all finance charges and other fees & charges); (iii) Outstanding Minimum Payment Due (when applicable); and (iv) Total over-the-limit amount (when applicable)
    Interest Free Period53 days

    Minimum Income Requirements

    Local ResidentHK$0
    ForeignerHK$0

    Other

    Card AssociationUnionpay
    Wireless PaymentUnionPay QuickPass, Apple Pay

    HK$200 Vouchers!

    DBS COMPASS VISA

    HK$100,000

    Min. Annual Salary

    N.A.

    Miles Conversion (local spend)

    3%

    Cash back on local spend

    MoneySmart Exclusive: HK$200 Supermarket VouchersValid till 31 Aug 2019.
    • LE MAUICE® MARMO BIANCO SUITCASE / Dyson Pure Cool Link Desk DP03 White Sliver (Redemption fee: HK$2,880)
    MoneySmart Exclusive: HK$200 Supermarket VouchersValid till 31 Aug 2019.

    Welcome Offers Features

    Welcome gift (pick one of the following):

    • LE MAUICE® Marmo Bianco Suitcase
    • HK$400 PARKnSHOP/Watsons or HK$300 “InstaRedeem” Amount
    • 6 MCL movie ticket vouchers
    • Dyson Pure Cool Link Desk DP03 White Sliver (Redemption fee: HK$2,880)

    Annual Interest Rate and Fees

    Annual Interest Rate35.70%
    Principle Annual FeeHK$300
    Supplementary Annual FeeN/A
    Fee WaiverYes
    Minimum Monthly RepaymentN.A
    Interest Free Period1% of monthly balance + fees

    Minimum Income Requirements

    Local ResidentHK$100,000
    ForeignerHK$100,000

    Other

    Card AssociationVisa
    Wireless PaymentVisa Paywave
    BEA i-Titanium Card

    HK$40,000

    Min. Annual Salary

    4.8%

    Cash back on local spend

    N.A

    Miles Conversion (local spend)

    • Welcome offer: HK$500 Cash Rebate / Antler 27" Expandable Suitcase! + Extra HK$300 Cash Rebate upon overseas retail/online foreign currency transaction Valid till 2 Oct 2019

    Welcome Offers Features

    • HK$500 cash rebate or ANTLER 27" Expandable Suitcase by reaching spending requirement of HK$6000 on local/overseas spending within 2 months from card issurance date

    Annual Interest Rate and Fees

    Annual Interest Rate36.43%
    Principle Annual FeeHK$600
    Supplementary Annual FeeN/A
    Fee WaiverYes
    Minimum Monthly RepaymentHigher of HK$50 or 1% of monthly balance + fees
    Interest Free Period56 days

    Minimum Income Requirements

    Local ResidentHK$40,000
    ForeignerHK$0

    Other

    Card AssociationMastercard
    Wireless PaymentMastercard PayPass

    HK$400 Voucher

    American Express® Platinum Credit Card

    $300,000

    Min. Annual Salary

    $5 = 1 Mile

    Miles Conversion (local spend)

    1%

    Cash back on local spend

    MoneySmart Exclusive: HK$400 Voucher!Valid till 31 Aug 2019.
    • American Express welcome offer of up to HK$2,960
    MoneySmart Exclusive: HK$400 Voucher!Valid till 31 Aug 2019.

    Welcome Offers Features

    • Get HK$500 CITY'SUPER cash vouchers by spending HK$5,000 or more in the first three months of card issuance
    • 5 Rewards points for every HK$1 spent in the first three months (maximum cap of 600,000 points)
    • 600,000 Rewards points worth HK$2,000 in cash voucher
    • 4 free movie tickets at Broadway Circuit or AMC Pacific Place for eligible cardholders who apply via online application

    Annual Interest Rate and Fees

    Annual Interest Rate36.07%
    Principle Annual FeeHK$2,200
    Supplementary Annual FeeN/A
    Fee WaiverN/A
    Minimum Monthly RepaymentThe highest of the following three amounts: (i) 1.5% of outstanding principal plus 100% of Finance Charges, interest, fees (including annual membership fee) and all other applicable charges; or (ii) 4% of your outstanding balance; or (iii) HK$220, plus any overdue minimum payments and any amount exceeding your credit limit.
    Interest Free PeriodN.A.

    Minimum Income Requirements

    Local ResidentHK$300,000
    ForeignerHK$0

    Other

    Card AssociationAmerican Express
    Wireless PaymentAmex Pay

    HK$400 Voucher!

    The Platinum Card

    $1,000,000

    Min. Annual Salary

    $7.5 = 1 Mile

    Miles Conversion (local spend)

    N.A.

    Cash back on local spend

    MoneySmart Exclusive: HK$400 Supermarket Voucher!Valid till 30 Aug 2019.
    • American Express welcome offer - Up to 480,000 Membership Rewards Points (which equivalent to 32,000 air miles)
    MoneySmart Exclusive: HK$400 Supermarket Voucher!Valid till 30 Aug 2019.

    Welcome Offers Features

    Annual Interest Rate and Fees

    Annual Interest RateN/A
    Principle Annual FeeHK$7,800
    Supplementary Annual Feecomplimentary 2 supplementary cards
    Fee WaiverNo
    Minimum Monthly RepaymentN/A
    Interest Free Period

    Minimum Income Requirements

    Local ResidentHK$1,000,000
    ForeignerHK$1,000,000

    Other

    Card AssociationAmerican Express
    Wireless PaymentN/A
    AEON UnionPay Credit Card

    $0

    Min. Annual Salary

    N.A.

    Miles Conversion (local spend)

    1%

    Cash back on local spend

    • Welcome offer up to HK$500 and Get free ticket for “6 October AEON Ocean Park Halloween Joyful Event”. Enjoy exclusive 1.5% cash advance handling charge rebate

    Welcome Offers Features

    • Welcome offer up to HK$500 rebate
    • Spend with AEON credit card in Japan and dining in town to earn 3X bonus points

    Annual Interest Rate and Fees

    Annual Interest Rate31.59%
    Principle Annual FeeHK$0
    Supplementary Annual FeeN/A
    Fee WaiverPermanent Annual Fee Waiver
    Minimum Monthly Repayment4% of credit purchase balance and cash advance balance or HK$100 each, whichever is higher ; 80% of credit purchase balance
    Interest Free Period

    Minimum Income Requirements

    Local ResidentHK$0
    ForeignerHK$0

    Other

    Card AssociationUnionPay
    Wireless PaymentN/A

    HK$250 Voucher!

    Standard Chartered Simply Cash Visa Card

    HK$96,000

    Min. Annual Salary

    N.A.

    Miles Conversion (local spend)

    1.5%

    Cash back on local spend

    MoneySmart Exclusive: HK$250 Supermarket VouchersValid till 31 Aug 2019.
    MoneySmart Exclusive: HK$250 Supermarket VouchersValid till 31 Aug 2019.

    Welcome Offers Features

    • New Cardholders can enjoy 25% CashBack on any eligible transactions within the first 2 months upon the card issuance (capped at HKD1,000 CashBack)
    • New Cardholders who newly sign up for Online Banking and login within the first 2 months from the date of card issuance can get extra HKD100 CashBack
    • 0% Interest Rate for retail purchase and cash advance during the first 4 months of card issuance

    Annual Interest Rate and Fees

    Annual Interest Rate33.41%
    Principle Annual FeeHK$2,000
    Supplementary Annual FeeN/A
    Fee WaiverYes
    Minimum Monthly RepaymentAll interest, fees, charges (including Annual Fee(s)), the total of the over-limit amount and/or the overdue amount (where applicable) that may be charged, plus 1% of outstanding principal or HK$220, whichever is higher
    Interest Free PeriodUp to 56 days

    Minimum Income Requirements

    Local ResidentHK$96,000
    ForeignerHK$0

    Other

    Card AssociationVisa
    Wireless PaymentVisa PayWave
    American Express Cathay Pacific Elite Credit Card

    $300,000

    Min. Annual Salary

    $6 = 1 Mile

    Miles Conversion (local spend)

    N.A

    Cash back on local spend

    • Welcome offers up to 76,000 Asia Miles

    Welcome Offers Features

    • Welcome offers worth up to 76,000 Asia Miles (available within first three months of card issuance)
    • Earn up to 40,000 Asia Miles on local spending (HK$5 = 1 Asia Mile)
    • Earn up to 30,000 Asia Miles on foreign currency spending (HK$3 = 1 Asia Mile)
    • Earn 5,000 Asia Miles by spending HK$5,000 or more in the first three months
    • Earn 1,000 Asia Miles by applying for credit card via online application

    Annual Interest Rate and Fees

    Annual Interest Rate37.67%
    Principle Annual FeeHK$1,800
    Supplementary Annual FeeN/A
    Fee WaiverYes
    Minimum Monthly Repayment The Minimum Payment is calculated as the highest of the following three amounts: (i) 1.5% of outstanding Principal plus 100% of Finance Charges, interest, fees (including annual membership fee) and all other applicable charges; or (ii) 4% of your outstanding balance; or (iii) HK$220 , plus any overdue minimum payments and any amount exceeding your credit limit
    Interest Free Period

    Minimum Income Requirements

    Local ResidentHK$300,000
    ForeignerHK$300,000

    Other

    Card AssociationAmerican Express
    Wireless PaymentAmex Pay
    BEA Visa Signature Card

    HK$240,000

    Min. Annual Salary

    4.8%

    Cash back on local spend

    N.A.

    Miles Conversion (local spend)

    • Welcome offer: HK$800 Maxim’s Gift Coupon! Valid till 2 Oct 2019

    Welcome Offers Features

    • $800 cash rebate by fulfill spending requirement of HK$8,000 in the first 2 months

    Annual Interest Rate and Fees

    Annual Interest Rate36.43%
    Principle Annual FeeHK$1,800
    Supplementary Annual FeeN/A
    Fee WaiverYes
    Minimum Monthly RepaymentHigher of HK$50 or 1% of monthly balance
    Interest Free Period56days

    Minimum Income Requirements

    Local ResidentHK$240,000
    ForeignerHK$0

    Other

    Card AssociationVisa
    Wireless PaymentVisa PayWave

    Extra HK$300 cash rebate

    WeWa UnionPay Card (applicable to designated Full-time University /Tertiary Students)

    $0

    Min. Annual Salary

    N.A.

    Miles Conversion (local spend)

    4%

    Cash back on local spend

    MoneySmart Exclusive: Successfully applied through MoneySmart: Extra HK$300 cash rebateValid till 31 Aug 2019.
    • Welcome offer: HK$200 Cash Rebate (equivalent to 10% Cash Rebate )  or  A set of Round-trip Standard Seat Flight Tickets for One Passenger from Hong Kong to Japan (Osaka or Okinawa) with HK$100 Hotel Voucher or HK$600 Häagen-Dazs™ Gift Voucher
    MoneySmart Exclusive: Successfully applied through MoneySmart: Extra HK$300 cash rebateValid till 31 Aug 2019.

    Welcome Offers Features

    • A set of Round-trip Standard Seat Flight Tickets for One Passenger from Hong Kong to Japan (Osaka or Okinawa) with HK$100 Hotel Voucher or HK$500 Cash Rebate or HK$600 Häagen-Dazs™ Gift Voucher

    Annual Interest Rate and Fees

    Annual Interest RateN/A
    Principle Annual FeeHK$800
    Supplementary Annual FeeN/A
    Fee WaiverYes
    Minimum Monthly RepaymentHK$50 or the aggregate amount of all the following items (whichever is higher): (i) All finance charges and other fees & charges billed; (ii) 1% of statement balance (excluding all finance charges and other fees & charges); (iii) Outstanding Minimum Payment Due (when applicable); and (iv) Total over-the-limit amount (when applicable)
    Interest Free Period53 Days

    Minimum Income Requirements

    Local ResidentHK$0
    ForeignerHK$0

    Other

    Card AssociationUnionpay
    Wireless PaymentUnionPay QuickPass, Apple Pay
    Show more cards

    Best Credit Card Promotions Hong Kong

    HSBC Credit Card Promotions & Welcome Offers

    From now until 19 February 2020, successfully apply for HSBC Visa Signature Card, HSBC Visa Platinum Card, HSBC Visa Gold Card, HSBC UnionPay Dual Currency Diamond Credit Card or HSBC UnionPay Dual Currency Credit Card to enjoy a first two-year annual fee waiver and an array of welcome offers which include up to HK$900 RewardCash as a welcome gift, HK$800 RewardCash as online application reward and HK$100 Reward Cash for using “Pay with RC” function successfully in the HSBC Reward+ App.

    Travel promotion (Add 1 promotion for each category)

    • HK$100 instant discount on tour fare upon every spending of HK$10,000 for selected tour, capped at HK$1,000
    • 10% off specified products on KKday designated website with the discount code “HSBC201910”

    Hotel Promotions

    • Extra 7% off for hotel reservation via Agoda website
    • Up to 6% cash rebate on selected hotel accommodation bookings at hotel.com
    • 9% discount on selected hotel booking at Expedia 

    Citibank Credit Card Promotion

    From now until 28 June, successfully apply for Citi Prestige Card to enjoy up to 20,000 Miles (240,000 Points) and a set of a round-trip ticket to Taipei for successful applications for Citi PremierMiles Card. For successful applicants for Citi Cash Back Card, Citibank will give out HK$1,000 Cash Rebate as a welcome gift. 

    Travel promotion (Add 1 promotion for each category)

    • Enjoy HK$200 discount per room for air ticket + hotel package/HK$300 off Club Med Resort + Air Package at Jebsen Holidays

    Hotel Promotions

    • Up to 7% off hotel booking at Agoda
    • 9% discount on Expedia 
    • Up to 6% cashback on Booking.com

    DBS Credit Card Promotion

    Travel promotion (Add 1 promotion for each category)

    • 10% off on car rentals at EasyRentCars 

    Hotel Promotions

    • Up to 7% off hotel booking at Agoda
    • Up to 10% Cashback on booking.com

    Wewa Credit Card & EarnMore Credit Card Offers

    From now until 31 Aug, successfully apply for Wewa Credit Card for a set of round-trip standard seat flight tickets for one passenger from Hong Kong to Japan (Osaka or Okinawa) with HK$100 hotel voucher or HK$500 cash rebate or HK$600 Häagen-Dazs™ gift voucher EarnMore Credit Card Offers. Besides, upon successful application for EarnMore Credit Card on or before 31 Dec, the new customer can enjoy OTO Qseat or HK$600 Häagen-Dazs™ Gift Voucher or HK$500 Cash Rebate as a welcome gift.

    Credit Card Welcome Gifts

    Types of welcome offers

    Cashback, air miles, coupons and gifts are the most common welcome offers. As for gifts, most of them are electronic devices and travel kits. For example, BEA i-Titanium Card gives you a Delsey luggage and PrimeCredit WeWa UnionPay Card gives you a Switch as a welcome offer.

    Select your favourite rewards

    Some credit cards are specialised in air miles or cashback, giving you a welcome offer accordingly. For example, Standard Chartered Asia Miles Card offers you up to 40,000 miles and Citi Cash Back Visa Card offers you up to HK$1,200 cashback as a welcome offer.

    Extra welcome offers

    Some card issuers will collaborate with personal finance websites, like MoneySmart, to launch exclusive offers. Simply apply for credit cards through those websites, you can get extra welcome offers. For example, MoneySmart gives you an extra HK$100 cashback for applying for WeWa UnionPay Card.

    Other Credit Card Promotions

    Hang Seng Credit Cards

    From now until 31 July, successful applicants of M Power Card can enjoy up to 8 MCL movie tickets/ 365-day premium membership/ HK$500 Cash Dollars. Successfully apply for enJoy Card on or before 30 June 2019 to enjoy an array of offers including HK$3,500 designated merchants coupons/ up to HK$400 enJoy Dollars.

    BOC Credit Cards

    From now until 30 June 2019, successfully apply for BOC i-card to enjoy perpetual annual fee waiver and HK$500 free spending credit/HK$200 free spending credit. If cardholders bind BOCHK Card with WeChat official account and pay via contactless/mobile payment transaction, BOCHK will give out HK$200 spending credit offer/ up to HK$80,000 interest-free cash loan.

    Standard Chartered Credit Cards

    From now until 2 July, apply for Standard Chartered Card to enjoy 100% CashBack on any spending on eligible transactions within the first 2 months, capped at HK$1000. Successfully apply for Standard Chartered Asia Miles Mastercard on or before 2 July through online channels and meet relevant spending requirements to enjoy both the Welcome offer and the Top-up offer: up to 40,000 Asia Miles and HK$100 Cashback.

    Frequently Asked Questions

    Can I get my credit card welcome offer right after my application?

    It depends. After applying for credit cards, you need to fulfill the spending requirements to get welcome offers. Take BOC i-card as an example, you’ll need to spend HK$8,000+ in the first 2 months of card issuance to get $500 free credit spending. Credit cards set limits to not only spending amounts but also spending categories. For example, BOC credit cards don’t count online bill payments and Octopus automatic add value service as eligible spending. Make sure you’ve read the Terms and Conditions before swiping your credit cards! But there are some credit cards that give you welcome gifts once your application is approved. DBS Eminent Visa Signature Card gives you 10% cashback for local spending in the first 2 months and up to HK$700 cashback without spending requirements.

    Are welcome offers for new customers only?

    Generally, yes. Most of the credit cards only prepare welcome offers for new customers, which means that you haven’t held or cancelled credit cards of your designated bank in the past 6-12 months. But some credit cards still give welcome offers to existing customers, but the value of the offer is lower than the new customers. HSBC Visa Signature Card is a good example: they offer up to HK$800 welcome gifts to new customers, but HK$500 welcome gifts for existing customers.

    Is there anything I need to know while applying for welcome offer credit cards?

    After getting your welcome offer, most of the banks reserve the right to charge you a handling fee and take back your welcome offer without any notice if you cancel their credit cards in 12 months of card issuance.

    When will I receive my welcome offer?

    If you fulfil the spending requirement, like BOC credit cards, they’ll credit the welcome offer directly to your credit card account in 4 to 6 weeks. But make sure your account is working, valid and under a good credit. For other banks, they have their own policies so it’s better for you to check the Terms and Conditions.

    Do I need to consider anything else apart from welcome offers?

    Yes! Welcome offers are attractive, but it’s still a one-time reward. The basic rebate rate after the introductory period should be one of your considerations. Besides that, you should find out your spending pattern. Say, dining is your main expenses, then you should pick a credit card with the most dining offers. Plus, get to know why you’re applying for a credit card, then pinpoint your expenses to get the most offers like cash back and air miles.

    Can I cancel my credit card after receiving the welcome offers?

    It varies from card to card. In general, if a cardholder cancels the card in less than 12 months from the date the card is issued, a fee which is equivalent to the value of the welcome offers/ administration fee will be charged.